Gain of 1,700% for the BONK meme coin based on Solana
Meme coins have emerged as a significant component within the cryptocurrency sector, such that hardly does a market rebound occur without the presence of at least one meme coin surpassing the overall gains of the cryptocurrency market. Currently, a particular cryptocurrency on the Solana network has exhibited superior performance inside the market, surpassing even prominent contenders like Dogecoin, Shiba Inu, and PEPE.
The value of the Solana-based BONK meme coin has experienced a significant increase of 1,700%.
Following an impressive surge early this year, the Solana-based BONK joke currency seems to have receded into relative anonymity. The value of the coin had a significant decline, reaching almost 80% of its previous peak, and remained at a rather low level for the majority of the year.
Nevertheless, the period of decline in the crypto market came to a conclusion in October, subsequently initiating a resurgence in market performance. The price exhibited an increase from $0.00000019 towards the conclusion of October to $0.000000768 at the commencement of November. By that point, the value had already increased by 300%; nonetheless, the upward trend in the market was still in its nascent phase.
According to statistics sourced from CoinGecko, the BONK price reached a new record high of $0.00000539 on Monday, November 20th. This signifies a remarkable surge of more than 1,700% from its lowest point in the market cycle, positioning it as the most successful meme-based cryptocurrency during the past 30 days.
Similarly, BONK has experienced a significant increase in its trading volume. During the middle of October, the trading volume of the meme currency fell below $2 million per day. As of Tuesday, November 21, the trading volume of BONK has surpassed $100 million, exhibiting a notable increase of about 11% within the past 24 hours. This observation indicates a resurgence in the coin's appeal, implying that the rise was supported by strong underlying factors.